G4S defends restructuring plans amid limited progress

G4S​ has defended its ­restructuring plans as its own figures show that, three and a half years into a transformation, it has completed only a quarter of the planned changes in some areas.

Three out of the six key ­areas for change outlined in the firm’s annual report are just 25pc complete. These are safety performance, IT and lean process automation, and direct labour ­efficiency. The latter was flagged up in 2014 as an “early focus” for chief executive Ashley Almanza’s plan to turn the business around, ­after he took on the role in June 2013.

Other areas such as route planning and telematics, and procurement and property are 50pc complete. It is ­understood that while progress has been good in ­developed markets, such as the US, it has been slower in emerging markets.

A spokesman for G4S said Mr Almanza had always been clear that the business needed to continue to make improvements.

G4S estimates that the changes will ultimately save the business between £90m and £100m each year by 2020.